I’ll show you an easy way to withdraw your funds—if you have many wallets, you might have forgotten balances on Scroll, just like I did. In Rabby Wallet, select the bridge, then choose Scroll as the source and Base as the destination. After that, simply switch the top wallet to move all your Scroll ETH to Base in just a few seconds. Before Scroll became widely used, your funds may still be sitting in these wallets—I strongly urge you to check them.
I created my own wallet in 15 minutes. AI has now reached this level of sophistication. I hadn’t looked at it in two or three months, but in just a few weeks, I accomplished so much—without spending any money, only using a $20 subscription. What I’ve always said is this: in an environment where projects are being built this quickly, choosing the right one is truly difficult, because everyone is launching their own project. But what matters is the originality of the project and the innovations it brings. This wallet is essentially a clone of Rabby, since Rabby is open-source. The UI is definitely better than Rabby’s… I built this wallet for myself to enable zero-fee swaps within my wallet—I didn’t share it. By the way, the wallet was fully functional within an hour. Now, the key is asking the right questions and having a bit of imagination. Everyone will soon be able to build their own projects—we’re entering a very different era.
Currently, the platform generating the most revenue is #papertrade, which earned $5.94 million yesterday. I believe this trend will continue because people deeply enjoy these dopamine-triggering experiences. Experts claimed memecoins would be temporary, yet today, memecoins are the top revenue-generating platforms—and they’ve been growing, not declining, for two years straight. Analysts said perpetuals would fade; even when they dipped occasionally over the years, they kept rising overall—this was said even before Hyperliquid, and since then, growth has been relentless. Whenever you try to explain human behavior purely through logic, you’re consistently wrong—humans are impulsive creatures driven by instinct. Papertrade offers 1000x leverage—a feature I personally find unacceptable—but people love it and are highly engaged. This concept had been tried before and failed, but Papertrade has clearly succeeded. Its TVL exceeded $100 million on day one; those funds were then burned and converted into $PAPER tokens. Traders incurred losses, but most of these losses were offset by rewards distributed to $PAPER stakers. The $PAPER token will inevitably gain value—we can’t predict how much, but its current FDV appears to be around $100 million. The cost of $PAPER has continuously risen: it started at roughly $0.01 (even lower in the first hours), and most recently traded at $0.04. Look, revenue is critical—platforms with revenue are sustainable. This is a trading platform; some called it a Ponzi scheme, but that’s nonsense—it’s simply a trading platform that enables 1000x leverage and launched differently: only those with positive PnL profit, while those with negative PnL receive paper tokens. Extra rewards are distributed to stakers—it’s an entirely novel model. Traders lost $38 million total, but $34 million of that was already paid out to stakers—so the actual loss isn’t nearly as severe. Plus, traders still hold $PAPER tokens. The notion that this is a massive loss is absurd—I’m tired of this global misunderstanding. Ponzi schemes and pyramid schemes are constantly confused—and this confusion will persist. But let me clarify simply: pyramid structures exist in nearly everything, usually involving income generation. Many companies operate pyramid-like structures—especially in cosmetics and supplements—and they generate real revenue, so they’re not Ponzi schemes. A Ponzi scheme occurs when there’s no real revenue, only the sale of a fantasy—for example, if someone launches a game with zero income, constantly giving out tokens whose value keeps falling. We’ve seen this repeatedly in crypto—that’s a Ponzi. FarmBank is a crystal-clear example of a Ponzi—but not all Ponzi schemes are this obvious. Years ago, when I first started talking about revenue, people dismissed me: “This isn’t a crypto exchange!” Now everyone’s looking at revenue. A platform without revenue cannot survive—it collapses. If we won’t talk about the platform with the highest revenue, what exactly should we be discussing?
Another chain that was supposed to close soon—there are actually many scrolls, but Scroll is on a different level. #Scroll’s chain fee revenue was $118 yesterday, and its app revenue was $113.20. This chain raised investment from VCs at a $1.8 billion valuation. #Linea had over $1,000 in chain fees yesterday and $435 in app revenue. #Taiko had $182 in chain fees, and no app generated more than $0.82 in revenue. The #Manta chain, which used fake TVL for marketing, generated only $9 in fees yesterday and $1.35 in app revenue. #Citrea launched early with $13 in fees and $3.66 in app revenue. #Mode had $28 in fees and $2.53 in app revenue. #Zeta had $2.58 in fees and $0.09 in revenue. #Zora had $1.50 in chain revenue and $0.03 in app revenue. There are hundreds more like this—during a time when people believed launching a blockchain was crucial, these chains emerged like tokens. Think back just one or two years: thousands of coins reached million-dollar market caps; today, 99% of them are gone—these chains will be the same. When evaluating them, you must consider not only the chain’s fee revenue but also its app revenue—if an app generates meaningful revenue, then that chain has succeeded. For example, #Solana has $1 million in chain revenue and $5.4 million in dApp revenue—nothing comes close, which is why it has remained viable for years and continues to thrive.
There was a hack on $NEAR—I opened a short position after seeing zachxbt’s report, and it paid off. I think there was a $3.8M hack in the Near intents. Thanks, zachXBT :) https://t.co/qyRgp6g4XY
I mentioned that TVL is important: Lighter’s TVL has started to rise, while Aster’s continues to decline, reflecting similarly in these tokens. $HYPE’s TVL has also begun to increase—perhaps due to tokens held on the platform—but while the TVL is rising, it’s not increasing as much as the token price. Still, it is growing. Hyperliquid’s TVL is fully 10 times that of Lighter’s, yet in terms of FDV, $HYPE is 20 times higher. Aster’s TVL is $770M, with an FDV of $5.6 billion; Lighter’s TVL is $750M, with an FDV of $4.38 billion for $LIT. Thus, Lighter appears cheaper on an FDV basis compared to both, but TVL alone isn’t the only criterion—revenue matters too. If a perp’s TVL remains flat or grows after its TGE, that indicates vitality. Lighter’s TVL stabilized and then began rising—I anticipated the token’s increase from this trend. It’s always essential to know where the money is flowing.
When talking about these Web3 scams, there are countless variations: separate ones for X, separate ones for Discord, and even scams involving only transaction requests or fake tokens sent directly to your wallet. As I’ve always said, you should never put all your funds in one place—you know better than anyone that control over both hot and cold wallets gives you greater peace of mind. But even here, there are countless traps and dangers: numerous phishing links exist, and it’s dangerously easy to lose everything all at once. Moreover, many DeFi platforms get hacked, so keeping all your funds in DeFi or cold wallets alone isn’t wise either. In my opinion, the smartest approach is to spread your funds across hot wallets, cold wallets, and centralized exchanges. The more you diversify, the better—because both exchanges and DeFi platforms can be compromised. As you know, wallets contain private keys and seed phrases. We use private keys to import wallets—I’ve personally imported the same wallet into over ten different wallets so far without issue. But I never store these phrases on my computer. You must be extremely careful about the links you click or the people you interact with—scammers can mimic logos perfectly while using fake accounts, and they can even replicate voices using AI. Since scammers constantly invent new tactics, you should approach every new message with skepticism. #DeFi #Web3 #WalletSecurity
I was probably the first to share Fomo on our CT. I said about a year ago that it could be one of the best trading apps, and now it’s gone viral. I hope they maintain this momentum and launch a token—but most dapps like this don’t issue tokens until the hype peaks. Some say, “Don’t brag about yourself; let others do it.” But who would remember that I shared this app a year ago? If I hadn’t shared it, no one would know the huge difference between someone who signed up now and someone who signed up a year ago.
You can recover the contracts you approved in your wallet using Rabby Wallet. I believe Rabby Wallet is the seventh wonder of crypto—it’s currently by far the best wallet on EVM. The only downside is its interface, which seems poorly designed, probably because they didn’t invest in a designer. To revoke permissions, click on the "Approvals" section in your wallet, then select the contract you wish to revoke.
